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Taxability of amount received from lic

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Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2015 Is Interest on LIC & LIC pension taxable?

PRATIK AGRAWAL

PRATIK AGRAWAL (Expert)
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13 August 2015 If Life insurance premium is paid more than 20% of the policy amount , then under section 80C you can claim deduction at 20% only. While receipt of LIC Policy amount is not taxable. As there is full exemption under section 10(10D)

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2015 Thank You. But my query was regarding interest on LIC

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